Canada:
IIROC Releases Guidance On Locked And Crossed Markets
11 February 2011
Stikeman Elliott LLP
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IIROC published guidance on February 1
on specific questions respecting "locked" and
"crossed" markets in the context of NI 23-101 Trading Rules
and its companion policy. The guidance reflects
the repeal of the "best price" obligation and the other
consequential amendments to UMIR discussed in
our post of earlier today. IIROC
published
a proposed version of the guidance in April
2010 and yesterday's notice also provides
responses to comments it received on its original proposals.
For more information, see IIROC Notice 11-0042
and IIROC Notice
11-0043.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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